Natural gas will surpass coal as the nation’s No. 1 power generation source this year, according to a new report by the Energy Information Administration (EIA). Via Platts, it is the first time the agency has forecast a shift in the balance between gas-fired and coal-fired electricity on an annual basis.
EIA estimates U.S. coal production to reach just 784 million short tons in 2016, which would be the lowest annual output total since 1983 and a 12.4% drop year-over-year. Meanwhile, natural gas prices are projected to average $2.25 per million BTU this year.
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